NEW YORK CITY — New York City-based Eastern Consolidated has sold two mixed-use buildings, located at 448-452 Broome St. in Manhattan, for $17 million. David Schechtman, Azita Aghravi, Marion T. Jones and Brian Ezratty represented the seller, Spain-based Caixanova, and procured the buyer, a joint venture between Tavros Capital and BLH Management.
Northeast
SOUTH HACKENSACK, N.J. — Gretchen Wilcox and Al Raymond of Morristown, N.J.-based G.S. Wilcox has secured a fixed-rate, $12 million commercial mortgage loan through Great West Life for a 140,838-square-foot warehouse property leased on a long-term basis to a retail restaurant supply distributor.
ARLINGTON, MASS. — Cushman & Wakefield has negotiated the sale of 30 Mill Street, a development site located in Arlington, Mass., approved for the construction of 116 apartments. The firm's Capital Markets Group, including Simon Butler, Biria St. John, Michael Byrne and John McLaughlin, represented the seller, CBS Transaction, and procured the buyer, W.P. East Acquisitions, an affiliate of Atlanta-based Wood Partners. Construction financing for the project is being provided by Cambridge Savings Bank.
WILMINGTON, MASS. — A 177,350-square-foot industrial building and approximately 12.17 acres of land, located at 30 Industrial Way in Wilmington, has sold for $4.5 million. Gregory Cahill and Rob Cronin of Lincoln Property Co.'s Boston office represented the seller, Beckwith Realty. The buyer was self-represented.
JERSEY CITY, N.J. — The 467-unit The Residences at Dixon Mills has started its next phase of redevelopment, which includes the hallways, lobbies and courtyard areas. Nancy Santos, LLC, was the architect for the project and designed each of the five buildings to have their own style through color schemes, artwork and light fixtures that match the old style architecture of the development.
NEW YORK CITY — AXIS Reinsurance Co. has leased 121,019 square feet at 1211 Avenue of Americas in New York City, a 2 million-square-foot, Class A office building. Mario Chiarella and Mark Fowler of Weichert Commercial Brokerage and Dana Pike of George Comfort & Sons represented the tenant and Cushman & Wakefield represented the owner, Beacon Capital Partners.
NEW YORK CITY — The Clarion Partners and Lightyear Capital have completed the management buyout of ING Group's private market real estate investment management business in the Americas. The company, which will revert to its former name of Clarion Partners, will remain headquartered in New York City and operate in the U.S., Mexico and Brazil. Clarion Partners has ownership in nearly 1,200 properties and more than $22 billion in real estate assets under management.
GREAT NECK, N.Y. — Great Neck-based BRT Realty Trust has entered into a joint venture, known as BRTL, with an affiliate of Torchlight Investors. The joint venture has the right to acquire short-term commercial real estate mortgage loans originated by BRT. The maximum capitalization is $100 million, of which Torchlight will fund 80 percent and BRT will fund 20 percent. BRT will manage the new entity.
SAYREVILLE, N.J. — Bass Pro Shops has signed a letter of intent for a 200,000-square-foot store at The Point, a $2 billion, 3 million-square-foot mixed-use property under development in Sayreville. The first phase is the 620,000-square-foot retail center The Landing at The Point, where O'Neill Properties Group, the developer for the project, is expecting the first retail tenants to open in 2013.
WOODBRIDGE, N.J. — Woodbridge-based Helios Capital has completed the acquisition of a $2.69 million non-performing loan for a 30-unit, 18,613-square-foot multifamily building in Manhattan's Upper East Side. Josh Malka of Helios Capital represented the buyer, an affiliate of Brick Realty Capital. The lender was a New York-based bank.